Document Type
Article
Publication Date
5-27-2013
Abstract
It is difficult to value fractional interests in art because there is virtually no market in those interests. Nevertheless, the Tax Court in Estate of Elkins valued the decedent’s fractional interests in multiple artworks, which the decedent and his children highly cherished. First, the court addressed the restricted agreements under section 2703 and then the court determined the value of decedent’s interests in the art.
Recommended Citation
Valuing Fractional Interests in Art for Estate Tax Purposes, 139 Tax Notes 1073 (May 27, 2013)
Included in
Entertainment, Arts, and Sports Law Commons, Estates and Trusts Commons, Taxation-Federal Commons, Taxation-Federal Estate and Gift Commons, Tax Law Commons